FMB Malawi sent a cautionary statement to its shareholders advising them, that it is negotiating to buy a controlling stake in Barclays Bank Zimbabwe.
Part of the statement reads.
Acquisition of a controlling shareholding in Barclays Bank Zimbabwe Limited
Further to the above, the Directors also advise that FMB is engaged in exclusive discussions with Barclays Bank PLC (“BB PLC”), in relation to the potential acquisition of its interests in Barclays Bank Zimbabwe Limited (“BBZ”). Discussions with BB PLC are ongoing and may or may not result in the announcement of a transaction involving the acquisition by FMBCH of the interest of BB PLC in BBZ. Such transaction would also be subject to obtaining approval of the banking regulators in Malawi and Zimbabwe.
The Directors therefore advise shareholders of FMB and the public to exercise caution and to consult their professional advisers when dealing in the shares of FMB. Further announcements will be made in due course.